Bitmine’s Ethereum Buying Spree Pushes It Toward Controlling 5% of ETH Supply

Bitmine Immersion Technologies is rapidly buying Ethereum and is nearing a stake equal to about 5% of ETH’s total supply.

That would make Bitmine one of the largest institutional holders of Ethereum, comparable in scale to major corporate crypto treasuries.

The accumulation could reduce liquid supply, support price pressure, and affect broader market dynamics.

It also raises fresh concerns about concentration in a network designed around decentralization.